bitcoin - All posts tagged bitcoin

If taxi and car service drivers think Uber is a problem, wait til they see driverless drone cars taking their jobs entirely. I have many great friends who are drivers and drove me around in limos and towncars from my TV days, but you can’t stop progress, safety and efficiency. Uber itself is passe, as I’ll simply email Google to send a Google driverless car to pick me up.

I like the new Zynga CEO simply because he can’t mess up the company any more than the old CEO did when he drove it into the ground and we were able to sneak in and buy some when it was trading near its cash balance, much of which was created when the company came public at a wildly overvalued price. Anyway, I’m holding my remaining $ZNGA for a long time to come I expect.

And I’ll give you one more public service announcement that penny stocks up 1,000% on hype will take you to the poorhouse. You will likely lose all your money playing penny stocks, especially playing hyped-up penny stocks. As legalized marijuana creates industrial-size pot farms, are these Aegion $AEGN items not going to be in direct demand: “water and wastewater, Brinderson, corrosion engineering and cathodic protection, and the industrial linings businesses.”

Then there are those folks like me, as I fit into two of the above categories. I’m an investor/saver who has put a tiny bit of my savings into bitcoin back when it was trading in the double digits, not hundreds or thousands of dollars.

In last week’s “Why we own Facebook and not Twitter ,” I outlined the biggest differences between the company’s platforms. My Trader’s Deep Thought of the Day is this: Twitter’s platform is to Facebook’s platform as Blackberry’s platform is to Google’s Android platform and Apple’s iOS platforms . That is, Twitter’s lack of innovation and eventual loss of critical mass to more innovative platforms like Facebook’s and newer platforms like Scutify.

Most gold bugs and many other folks out there are aware that Germany’s government requested 1,500 tons of gold back from the Federal Reserve’s vaults and was basically told to buzz off. That leads me to our Trader’s Deep Thought of the Day: The reason Germany just “allows” the Fed TO NOT return Germany’s 1,500 tons of gold is because that’s “only” $72 billion worth of value, a small fraction of what Germany and Deutsche Bank get/got in the bailouts. Read for yourself here. $GLD I remain a buyer of gold coins anytime it gets near $1,200/ounce, regardless of what the Fed and Germany and DB and the Comex and J.P. Morgan, et al are up to.

I’m not always a Marc Andreesen fan, but this write up he did on bitcoin touches on all kinds of important reasons to believe bitcoin could work long-term. My favorite music analyst, Bob Lefsetz called this article The Most Important Thing You Will Read All Day.

I got a note from someone with a fascinating premise. Just imagine for a moment if everybody using U.S. dollars for their money today started using bitcoin instead. You could take the total circulation of dollars and divide it by the number of bitcoins to get some rough estimate of where bitcoin would be if it were to become the world’s de facto standard currency in a few decades or something. Dividing the current 1.2 trillion U.S. dollars in circulation by the 12 million bitcoins that have been issued, would give you a $100,000 bitcoin. This guy’s looking for a $1 million bitcoin. Not that I’m expecting that, but it’s an interesting thought for sure.

First off, are there any bears left? Are there any bears left who aren’t scared to death right now? This year our “Who’s More Scared Right Now, The Bulls or The Bears?” poll has never swung to 90% plus margin and that’s helped keep us steadily bullish and riding the huge rallies in our momentum stocks all year. It’s time once again to ask you guys that very question then and let’s see what we end up with. Note that the Investor Intelligence Bull/Bear Survey is “off the charts” right now.

About The Cody Word

Cody Willard writes the Revolution Investing investment newsletter for MarketWatch and posts the trades from his personal account at TradingWithCody.com He is the founder of WallStreetAll-Stars.com and the principal of CL Willard Capital. Cody serves as an adjunct professor at Seton Hall University and is on the University of New Mexico Alumni Board. He was an anchor on the Fox Business Network, where he was the co-host of the long-time #1-rated show on the network, Fox Business Happy Hour. Cody, a former hedge fund manager, and his stock picks and economic outlooks have been featured on NBC’s The Tonight Show with Jay Leno, ABC’s 20/20, CBS Evening News, CNBC’s SquawkBox, Jon Stewart’s The Daily Show, as well as in the Financial Times, Wall Street Journal, New York Times, and many other outlets.